The FTSE fell initially during the course of the session on Monday, but found enough support just above the 6250 level to turn things back around to form
The FTSE fell initially during the course of the session on Monday, but found enough support just above the 6250 level to turn things back around to form a nice-looking hammer. The hammer of course is a bullish sign, so we can break above the top of the range for the day we feel that the FTSE should reach towards the 6450 handle. Any pullback at this point in time should continue to find buyers, so we don’t really have a scenario in which we are willing to sell the FTSE as most stock markets around the world look fairly well supported at the moment.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
